No Preference or Priority Sample Clauses
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No Preference or Priority. It is expressly understood and agreed that each of the Notes shall be secured without preference or priority; it being the intention of the parties that the Notes shall be co-equal and coordinate in right of payment of principal, interest, late charges and other sums due thereunder.
No Preference or Priority. It is expressly understood and agreed that all Obligations, including Hedging Obligations with a Lender or an Affiliate of a Lender, are and shall be cross-collateralized and cross-defaulted such that the Collateral securing any of the Obligations shall secure repayment of all Obligations, and subject to any applicable notice and cure periods, a default under any Obligation shall be a default under all Obligations. Subject to Section 1.4(d) of this Agreement, each of the Obligations shall be secured without preference or priority; it being the intention of the parties that the Obligations shall be co-equal and coordinate in right of payment of principal, interest, late charges and other sums due under the Loan Documents.
No Preference or Priority. Payment of the Installment Payments and the principal of and interest on any Parity Debt shall be made without preference or priority among the Installment Payments and such Parity Debt. If the amount of Net Revenues on deposit in the Water Fund is at any time insufficient to enable the City to pay when due the Installment Payments and the principal of and interest on any Parity Debt, such payments shall be made on a pro rata basis.
No Preference or Priority. Subject to Section 1.4(d), each of the Obligations shall be secured without preference or priority; it being the intention of the parties that the Obligations shall be co-equal and coordinate in right of payment of principal, interest, late charges and other sums due under the Loan Documents.
No Preference or Priority. Payment of the Installment Payments and the principal of and interest on any Parity Debt shall be made without preference or priority. If the amount of Gross Revenues on deposit in the Enterprise Funds is any time insufficient to enable the City to pay when due the Allocable Share of Installment Payments and the principal of and interest on any respective Parity Debt, such payments will be made on a pro rata basis.
No Preference or Priority. ARTICLE IV - CONDITIONS TO THE LENDER'S OBLIGATIONS...........................
1. Satisfaction of Commitment Letter Conditions; Compliance with Agreements.......................................................
No Preference or Priority. It is expressly understood and agreed that if there is more than one note secured by this Agreement, all such notes shall be secured without preference or priority; it being the intention of the parties that all notes secured by this Agreement shall be co-equal and coordinate in right of payment of principal, interest, late charges and other sums due thereunder.
No Preference or Priority. Payment of the Loan Repayments and the principal of and interest on any Parity Obligations shall be made without preference or priority. If the amount of Net Revenues on deposit in the Wastewater Enterprise Fund is any time insufficient to enable the District to pay when due the Loan Repayments and the principal of and/or interest on Parity Obligations, such payments shall be made by the District on a pro rata basis.